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3 items for Reg E liability

A customer had a charge out of his account six months ago. That’s old and means he has unlimited liability so we don’t have to investigate it. Is that right?

No, that isn’t right. Liability rules are very confusing. First, there is no statute of limitations on making a claim. Next, the consumer’s liability depends on when they discovered the loss, when they reported it, and when the withdrawals happened. Liability limits are tiered based on these.
Learn more about Andy Zavoina’s webinar A to Z of Reg E

First published on 04/19/2020

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